Cash to spend
PSG* results are fairly well known ahead of their release as just over 80% of profits come from other listed stocks that have already released results. This leaves one question, what does it plan to do with the almost R3bn in cash it holds after a R2.2bn bookbuild (at R245 per share) in December? About R500m will go to the Curro* rights issue, but the rest? It’s a fairly giant pile burning a hole in PSG’s pocket and I can’t see the company sitting idly on the money.